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Wednesday, October 15, 2014

Qualcomm trumps Microchip with $2.5 billion deal for Britain's CSR, (NASDAQ: MCHP)

Qualcomm Inc has agreed to purchase chip maker CSR Plc for $2.5 billion, pushing out its rival Microchip Technology to win the British bluetooth specialist. CSR said on Wednesday its shareholders would receive 900 pence a share in cash under the terms of the deal.

Microchip Technology Incorporated develops and manufactures specialized semiconductor products used by its customers for a variety of embedded control applications. Shares of MCHP fell by 1.24% or $-0.48/share to $38.21. In the past year, the shares have traded as low as $37.89 and as high as $50.04. On average, 1818160 shares of MCHP exchange hands on a given day and today's volume is recorded at 6772257.